Like most media companies, CC Media Holdings, the parent company of Clear Channel Communications, saw revenues fall by double digit percentages in Q1. Radio revenues fell 22% to $603.6 million. Outdoor was hit even harder, down 25% to $582.2 million.
Clear Channel management’s favorite metric is operating income before depreciation, amortization and non-cash compensation expense (OIBDAN). Radio OIBDAN plunged 50% to $138.1 million and outdoor 46% to $87.7 million.